Solution-Analyze the residuals from the given linear

Analyze the residuals from the given linear regression model

Assignment Help Basic Statistics

Reference no: EM131049429

Linear regression model

Montgomery, Peck, and Vining [2006] present data on the number of pounds of steam used per month at a plant. Steam usage is thought to be related to the average monthly ambient temperature. The past year"s usages and temperatures are shown in Table E3.2.

a. Fit a simple linear regression model to the data.

b. Test for significance of regression.

c. Analyze the residuals from this model.

d. Plant management believes that an increase in average ambient temperature of one degree will increase average monthly steam consumption by 10,000 lb. Do the data support this statement?

e. Construct a 99% prediction interval on steam usage in a month with average ambient temperature of 58°F.

TABLE E3.2 Monthly Steam Usage and Average Ambient Temperature

Month	Temperature (°F)	Usage/1000	Month	Temperature (°F)	Usage/1000
January	21	185.79	July	68	621.55
February	24	214.47	August	74	675.06
March	32	288.03	September	62	562.03
April	47	424.84	October	50	452.93
May	50	454.68	November	41	369.95
June	59	539.03	December	30	273.98

Reference no: EM131049429

Questions Cloud

Consumer with utility function : A consumer with utility function u(x) =√x wants to purchase full insurance from Company Z. However, he doesn't know how much the premium, Q, will be. It may be $10,000or $20,000 with equal probability.

Managed care provider centene : Managed care provider Centene has just finished deploying a new financial system. CIO Don Imholz says the project, which involved multiple PeopleSoft modules as well as financial planning and reporting software from Hyperion, was completed "very q..

Wtite global summary on article ask the cognitive scientist : Wtite global summary about the article "Ask the Cognitive Scientist Do Students Remember What They Learn in School?" By Daniel T. Willingham.

Calculate contributions to air pollution : A quote from the Earth Policy Institute summed up air pollution from vehicles this way, "while only some motorists contribute to traffic fatalities, all motorists contribute to air pollution fatalities."

Analyze the residuals from the given linear regression model : Fit a simple linear regression model to the data. Test for significance of regression. Analyze the residuals from this model.

Some shiny new piece of technology : Everyone at The Queen's Medical Center in Honolulu wants some shiny new piece of technology. Doctors and nurses who have seen a new pharmacy management system demonstrated at a recent conference think the hospital should have it. An administrator ..

Analysing the existing sales and marketing strategies : The group will choose an organisation in the hospitality industry (to be approved by the lecturer) and will produce and present a business report critically analysing the existing sales and marketing strategies currently employed by the organisati..

Initialize the array with the appropriate number of values : Calculate the sum of the total miles you spent running over the 10 weeks. Calculate the average number of miles you ran.

Calculate cost of debt and cost of equity : Calculate after-tax Weighted Average Cost of Capital - Assuming Pacific Energy Limited's credit rating is AAA, what alternative capital structure would you recommend lowering the cost of capital to the company?

User Account

All Pages

Analyze the residuals from the given linear regression model

Reference no: EM131049429

Reference no: EM131049429

Questions Cloud

Reviews

Write a Review

Basic Statistics Questions & Answers

Statistics-probability assignment

What is the least number

Determine the value of k

What is the probability

Binomial distributions

Caselet on mcdonald’s vs. burger king - waiting time

Generate descriptive statistics

Sampling variability and standard error

Estimate the population mean

Conduct a marketing experiment

Find out the probability

Linear programming models

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT